The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-09-04

Host Fortunate Adjustment TO tho
Financial World.
Scenes On tho Sleek Msrket That
Have Never sesn EquRlled
-kH cts.

Have Never eeeu Equaileu
-k6 OTIS.
NEW YoRK, September 8. - Jay
Gould did not g. to his Office this
morning, bat his son George Gould
was at his ,fiis and cNa,ted chou
the Baltimore and o rio deal. "The
public assume Il a, the Baltimore aud
Ohio telegraph will cone your way
They take it f,r granted" WAS sug
gested by a gentleman present. "
think it is too esrly to sesume any
thing" returoed Mr.. Gould. "The
settlement Of the D fillmore and 0hio
railroad matter is, however, in my
judgment, one Of In 4, most fortunate
adjustments that has hsppe ned for
years to the aaauslal world. l believe
that the couo ssion Of the Baltimore
and Ohio railroad negotiations viii
act ike thunderstorm on a sultry
day and Ii will clesr tho o. mos phece.
notice tba'ils results are already sp.
parent, and l think i's effects will be
far reaching. Al securities will un.
doubtedly be- benef ed"
"And 10 is . fair, presumption that
there has bsen snne discussion OF n,
telegraph end Of 'hs company coming
your way, 10 IL notf' asked the gentle
man.
There va, a faint emile on Nv.
0ould's swaftby face Is he replied: II
know Of no dkeu.siops eveD," said
he. at is, Of oourse, posibls that my
father may have mad such without my
knowing II, bat, not to be mysterious
abou; the matter, think II yet too
early to 'sks anything for granted,
The railroad business lie now &C justed,
and people mast have time to investi.
gate and determine Just where they
stand before acting further. should
judge that 10 DO rational assump'
Hon."
AysRY Q Cd fcHBHs.
NKw YoRK, September 3.-Balti.
more and 0nlo affairs are the 'ak II
Wall street today. la the tfii Q n ]
R. Maxwell, president OF the Nav
Jersey Central Tailrt ad, 1t was said
this morning that toe nciDt oispcB.
ton OF the Baltimore and Onio rall-
road was good scheme aud would be
the means Of producing harmony all
aroand. The cutting IL rates and the
wars which slssye ragged while Nj.
Garrett WIS At ths helm would bs
things Of tina past. Tnst the Western
Union would get possession OF the
Baltimore and o lio T,lsgr'ph Com
psny was bulrv. d At that Office. rne
ssme belief Wa xDressed at the eff -
Of the Pos a. Telegraph Company.
soBsHs TIE ST OK n,BKET.
New YonE. Sep ember 3-The
bcsnes on me stock m irket this morn.
ing have never been ,qlaled in the
history Of tie street. EvsIy ons oi the
brokers seemed to have heavy buying
orders, aud little OF no stock was OF.
iered for tale. Resdicg. which closed
last night at So, opened at 60l aud
advanced In q minute 10 CSC. Union
Pacific opened II up at b6i; aud I'D
vanced immrdistsly 70 DC Westerr
Union closed last night st 74ic, open.
ed at 76c and Is nov 77t;. Richmond
Terminal closed last light at lc,
= opened this morning at 29c aud is nov
sole. The tAes are 80 rapid that the
stock indicators are unable to keep u .
with them, and their quotations are
about Eve nil utes behind the tins Of
making transactions.
KYrsCr ON STOCK RrcHAsaK.
Nav YoBx September 3.--The de.
yelopmsnt, pub i,ned this mornig &
regarding the Baltimore and Ohio ne
goiiations we're compete surprise TO
the opofat rs in the 8 ock market, bat
they all iJrmed a decision to buy
everything on tue list at the opening
Of the Excnsuse, and price. moved mp
with unprecedented rlpidity. The
excitement in the board was intense
and brokers bid ie above the previou.
sales In oIdsr 30 set stock ahead OF
their competitors. The principal gain
Was made in Reading, which a. one
tine showed a. advance over Fhday'S
cloee Il Sc, ana Manhattan recorded
gain OF tio.
Toward tue end OF business the eI
element ssbsijed. aud the impree
sion began 10 grow tba' the bentht "a
accrue ON the oor tract is over esti
mated. One Of the heavies. opersiorI
In the street eaid after the clio e
"There 10 no bsbeot 90 be gained II, n
the settlement except that whict
might accrue TO tbs creditors Of th,
Baltimore aid Ohio. They are els n
TALLY the same parties who have iakeT
the preiert d stock and the bonds, ant
II 10 simply q mstter Of bonding lhI
aoatitg debt. This may have saves
the Baltimore and 0lio from goini
into receivers hands on account o
the floating d b., bat that IL all it ha'
done. Rales cannot be advanced 10
per cent, a, vas the case Ehen 80
West shore 10 Element vas made. A
far AZ Q Telegraph sett ement 10 con
eerned, that 10 further away now tba
ever. The Baltimore and Ohio IL not
In strong hands, and will be run II
CONJUNCTION with the Psnnsylvani
and Residing for the ben, ft Of the lal
ter, and N Gould buys the TELEGRAPH
system u will be ~ the syi dicate
terms, and there may be = Gght 9
yeare before q consolidation 10 made.
Vice President De Castro, OF Oh
Commercial Gable Cimpmy, va
ayerse 10 taking on the matter. II
said that Mr.. Aackay was It'll In IA
Praucifco, and had no intention {
coming 10 this city for some time. Tn
negotiations with Mr.. Gould had nc
been renewed, bat that would not q
feet the land lines Even thong
Qould ahould 90, toe Baltimore al
Ohio telegraph system the position
the postal company would not b
weakened, but Instead, waterfall
strengthened, 10 Il would then be n
only opposition lioe. The stcrie,
the effect that Mackay bal eigoihe
bis willingness 10 raise the cable rat
10 30 or 90 cents per void, provide
Gould iurnishei the money 10 pay u
rebate euarant, 81 by Macksy, he pr
uonpced ialfe. Oae ol tho reasons I
holding 10 the 40 cent rate IVES that
that yata WAS establlfhed no new cor